it is going to require action. and i think most people who have studied this understand we have both a revenue and a spending problem. this chart i think demonstrates it quite clearly. this looks at the relationship between spending that's the red line and revenue, that's the green line, going back to 1950. so this is looking at 60 years of our spending and revenue history. you can see that we are near a 60 year high. we've come somewhat off it, we're near a 60 year low in revenue. that says to me we've got to work both sides of the equation. those who say we've got a spending problem have it half right. we also have a revenue problem and both sides have to be addressed. our gross federal debt surpassed 100% of our g.d.p. this year. it is projected to rise to 115% by 2022. the definitive work on death studied 200 years of financial history, looked at dozens of countries and concluded once you reach a gross debt of more than 90% of g.d.p., your future economic prospects are affected in a negative way. you have reduc